Indian Toy Manufacturers

About Indian Toy Manufacturers

The Indian toy sector has the potential to grow by 2024 to USD2-3 billion as per Investindia, the Indian toy industry holds 0.5% of the global market share and this could be estimated to be USD 1.5 billion.

Most of the toy industry is located in New Delhi, Tamil Nadu, Maharashtra and clusters across central Indian states. The Indian toy industry has a strong potential to grow and in less time can be the worlds best toy manufacturers.

The toy market size is nearly USD 1.5 billion and 100% FDI is permitted and as per InvestIndia, the toy industry exports USD 130 million of toys in 2019-20.

What are the reasons to invest in Toy Manufacturering?

India is the world’s second-largest polyester producer and related fibres and holding 8% of the global share of plush toys

As per the InvestIndia, the demands for domestic toys forecasted to grow by 10 to 15% against the global average of 5%

By 2024, India’s toys industry is estimated to grow to USD 2 to 3 billion.

Central Government Schemes to Encourage Toys Industry in India

1. Scheme For Granting Recognition & Registration To In-House Research&Development Units
2. Remission of duties & taxes on exported products
3. Scheme for duty drawback
4. Export promotion capital goods scheme (EPCGS)
5. Custom bonded warehouse scheme (CBWS)
6. Increase in BCD for electronic toys (under HSN 9503) from 5% to 15% to promote domestic manufacturing.

People Also Read: List of Industries in India

States Incentives Provided to Encourage the Indian Toy Manufacturers

1. Provide capital subsidy
2. Exemption on stamp duty
3. Interest subsidy
4. Tax reimbursement
5. Exemption on Electrical duty

Product Specific Industrial Cluster Development Program

Karnataka is becoming the first state in India creating a toy cluster in the district of Koppal, developed in partnership with Aequs Infra. The cluster provides a self-sustained ecosystem spreading over four hundred acres of land, including export markets and domestic tariff area for the local market. And also has the capability to produce 40,000 jobs in the next 5 years and will attract over INR 5,000 crore in investments.

During 2019-2020, India exported USD130 million and most of the business took place with the USA and UK.

As per InvestIndia, India had been imported toys of the average value fo USD 285 million under the chapter of 9503.

All toys product comes under the category HS Code 9503, imposed duties on toy imports of 60% reduced to34.2% under Asia Pacific Trade Agreement and 0% under ASEAN India Free Trade Area to FTA conditions.

India is the next Toy Capital of the World

AS per the IMARC report, the India toy sector will be crossing the USD 3.3 billion mark by 2024 at a CAGR  of 13.3% between 2019 to 2024. India’s share in the global toy market is 0.5% and its worth is INR  5,000-6,000 crore

List of Indian Toy Manufacturer

1. Win Magic Toys
2. The Story merchants
3. Funcorp.in
4. Varnam Craft  Collection
5. Shinesei
6. Clever Cubes
7. Brainsmith
8. Buddyz

List of Indian Toy Start-ups

1. Skillmatics
2. Toiing
3. Skola
4. Kreeda
5. Desi Toys
6. Ariro Wooden Toys

List of Ministries and Government Bodies Affiliated With The Indian Toys

1. Ministry of MSME
2. Ministry of Tourism
3. Ministry of Commerce
4. Ministry of Education
5. Ministry of Textiles
6. Ministry of Skill Development
7. Ministry of Science and Technology
8. Ministry of Information and Broadcasting
9. Department of Promotion of Industry and Internal Trade

List of Toy Associations

1. Sports Goods Export Promotion Council of India
2. Confederation of Indian Industry
3. Associated Chambers of Commerce and Industry of India
4. Export Promotion Council for Handicraft
5. Toy Association of India
6. The Federation of Indian Chambers of Commerce  and Industry

List of Government Initiatives Toward Encouraging World-Class Toy Ecosystem in India

1. Mr Narendra Modi urged the industry players to support the domestic toys manufacturer and depend less on foreign goods
2. Government enforcing mandatory quality certification for imported toys in order to ensure product quality.
3. The government is planning a phased manufacturing programme for toys with an aim to build a sturdy home-grown manufacturing ecosystem. India’s domestic toy industry comprises 4,000 MSMEs and the key area to focus on is the unorganised sector.
4. Programmes made for toys by the government  boosting the toy sector
5. Encourage the global toymakers to invest in the Indian toy industry
6. Planning to promote the educating programme for the consumer so they only buy make in India toys and also can understand the difference between the poor and good quality toys.
7. The government invited all the important ministries to give their inputs for better outputs

Categories of Indian Toys

1. Electronic toys
2. Games and puzzles
3. Stuffed toys
4. construction and building toys
5. Dolls
6. Ride-on toys
7. Sports and outdoor play toys
8. Pre-school toys
9. Activity toys
10. GI toys of India
11. Atmanirbhar toys